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- GBP/USD has grown again and is testing the resistance of the MA (200) H1
GBP/USD has grown again and is testing the resistance of the MA (200) H1
Today, since the beginning of the session, the GBP/USD pair continued yesterday's decline (from $1.3065 to $1.2920), and fell to $1.2860. But soon the pair rose sharply to $1.2970 and is testing the MA (200) H1 moving average line ($1.2960). On the four-hour chart, the pair is trading slightly below the MA (200) H4 ($1.2980). The $1.3005 resistance may keep GBP/USD from further growth. If it breaks through, the price may rise to $1.3065-80. On the other hand, the pair may still fall to $1.2845-60 after the correction ends. The most likely range of price movement today may be hidden within the range of $1.2845 -$1.3005.
⦁ Resistance levels are at: $1.3005, $1.3065-80, $1.3170
⦁ Support levels are at: $1.2920, $1.2845-60, $1.2805
The main scenario for the pair's promotion - the breakout of the resistance is $1.3005 (October 6 high, October 12 low) and the pair may grow to $1.3065-80 (Octobe12-13 highs)
An alternative scenario - correction and probable decline of the pair to $1.2845-60 (October 7 low, session low)
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